Property Sale Price Modification Contingency Failure
Synthèse Legislator
Généré par l'IAA contract for the sale of a property, stipulated to be a definitive sale, was subsequently subject to an agreement between the parties regarding the modification of the purchase price, contingent upon obtaining a governmental authorization, which was ultimately refused; the court held that this contingent modification agreement, being subsidiary to the main sale contract and depending on an event that did not occur, did not retroactively alter the initial definitive sale, and thus the original agreed-upon price remained enforceable.
Regeste Legislator
Généré par l'IAProperty Sale Price Modification Contingency Failure: A contract for the sale of a property, stipulated to be a definitive sale, was subsequently subject to an agreement between the parties regarding the modification of the purchase price, contingent upon obtaining a governmental authorization, which was ultimately refused; the court held that this contingent modification agreement, being subsidiary to the main sale contract and depending on an event that did not occur, did not retroactively alter the initial definitive sale, and thus the original agreed-upon price remained enforceable.